FET Form Thailand: How Foreigners Fund a Phuket Condo

The FET form Thailand buyers hear about is the Foreign Exchange Transaction form, a record issued by the receiving Thai bank showing that foreign currency arrived from abroad and was converted into baht. A foreigner who wants to own a Phuket condo freehold in their own name normally needs it, because the Land Office will not register the unit without proof that at least the purchase price came into Thailand from overseas. Getting the transfer right before the money is sent is far easier than fixing it afterwards.

With Phuket condo launches rising and foreign buyers making up the majority of purchasers in the premium market, this paperwork is one of the most common causes of delays on transfer day. This FET form Thailand guide explains the rule, the thresholds and the mistakes lawyers say they see most often.

What is an FET form?

The FET form, formerly called the Tor Tor 3 (or Thor Tor 3), records who sent the money, who received it, the foreign currency amount, the exchange rate, the baht received and the stated purpose of the transfer. It is not a tax document or a permit. Its job is evidence: it proves later that the baht used to buy the condo originated outside Thailand. It also helps when you sell, because banks handling the outward remittance of sale proceeds look at how the money originally came in.

Why does the Land Office require it?

The rule comes from the Condominium Act B.E. 2522. Section 19 allows foreigners to own condo units in several situations, including when they bring foreign currency into Thailand. Section 19 ter says such a buyer must show evidence of bringing in foreign currency, or of withdrawing from a non-resident baht account or a foreign currency account, in an amount not less than the price of the unit. Section 19 bis caps total foreign ownership at 49 percent of the building's unit area. Our explainer on whether foreigners can buy property in Phuket covers the wider ownership rules.

According to the Bangkok law firm ThaiLawOnline, the Supreme Court confirmed in Decision 7500/2552 that the registering officer may only transfer a unit to a foreigner once these documents are correct and the 49 percent quota is respected, so the officer has no discretion to waive the evidence.

Is there a minimum amount for an FET form?

Sources describe bank practice slightly differently, so ask your receiving bank before sending money:

• USD 50,000 or more: ThaiLawOnline says Thai banks issue an FET form for each inward transfer of this size or the equivalent in another currency.
• Smaller transfers: the firm advises keeping every bank credit advice and asking for a confirmation letter listing the remittances, which the Land Office accepts instead.
• Any amount: money transfer company Wise says that since 2018 banks can issue a certificate for any amount, without a fixed template, as long as it shows the requester, amount, exchange rate, date and purpose.

What mistakes can block a Phuket condo transfer?

Lawyers point to three details that decide whether the FET form is usable. Use this FET form Thailand checklist before you instruct your bank:

The currency point catches many buyers who use low-cost transfer apps that deliver baht directly. ThaiLawOnline notes these services are fine for living costs but can leave no foreign exchange record for a property purchase. Joint buyers should send funds in both names, or make separate transfers for each share.

Can the developer collect the FET form?

Yes. On off-plan purchases, buyers often send money directly to the developer's account, and the developer's bank issues the form. Make sure your own name appears as the sender and that you receive the original before transfer day. The transfer itself, and who pays the fees, is covered in our guides to the Phuket condo title transfer process and Phuket property transfer fees.

What if the FET form is wrong or missing?

If the money is already in Thailand, lawyers suggest first requesting the bank's own records of the inward transfers, then asking for a letter confirming the correct purpose, which often solves a blank or vague purpose field. Check the Land Office's position through a lawyer before transfer day, since practice on borderline documents can differ between offices. Re-sending correctly documented funds is slow but certain. Restructuring the purchase to match the wrong sender should be done only with advice, especially if it moves towards a Thai nominee arrangement, an area now under close scrutiny, as our report on the Phuket nominee probe shows.

Do you need an FET form for a villa or leasehold?

No. The FET requirement applies to registering freehold ownership of a condo unit in a foreigner's name. A registered lease, a usufruct, or a house held through another structure does not trigger it, although documenting the money cleanly still matters when you later sell and send proceeds home. See our guide to freehold vs leasehold in Phuket and why a 99-year lease in Thailand is still capped at 30 years.

FET form Thailand FAQ

Is the FET form the same as Tor Tor 3?

Yes. Tor Tor 3 was the older name for the same bank record of an inward foreign currency remittance, and the terms are used interchangeably.

Can I use savings already in my Thai bank account?

Only if they can be traced to foreign currency brought in and converted in Thailand, or are withdrawn from a non-resident baht account or a foreign currency account, under section 19 of the Condominium Act. Baht earned in Thailand does not qualify.

Who issues the FET form?

The Thai bank that receives and converts the foreign currency issues it, not the Land Office.

Should I keep the FET form after buying?

Yes. Keep the originals with your title deed and contract, because they help when you sell and want to send the proceeds abroad.

Photo: Siam Commercial Bank, Talat Noi branch, by Chainwit. / Wikimedia Commons, CC BY-SA 4.0.